Scheme

HDFC Small Cap Fund

Holds 85 companies worth ₹36,747 Cr in Sept 2026.

Fund house
HDFCThe fund house that runs this scheme.
AUM
₹40,801 CrHDFC Small Cap Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 2.6% on Aug 2026, ₹41,891 Cr.
Largest holding
Firstsource Solutions LimitedFirstsource Solutions Limited is 3.7% of this scheme's NAV.
Fund manager
Chirag SetalvadRuns it since 28 Jun 2014, as the fund house dates it. With Bhagyesh Kagalkar (gold & silver), Gopal Agrawal (overseas).

Overview^{(8 Oct 2026)}

Fund managers3

Chirag SetalvadFund manager · Jun 2014 · 29y
Bhagyesh KagalkarGold & silver · Aug 2026 · 31y · MMS B.E.
Gopal AgrawalOverseas · Sept 2026 · 21y · B.E.

Dhruv MuchhalJun 2023 – Sept 2026

Key facts

Benchmark: BSE 250 SmallCap (Total Returns Index)
Risk: Very High
Expense: Regular 1.56% · Direct 0.79%
Exit load: 1% within 1 year
Started: 3 Apr 2008
Minimum: ₹100

Source.Its Scheme Summary Document as of 8 Oct 2026 at AMFI.

What changed^{(21 changes)}

Sept 2026

3 changes

Bhagyesh Kagalkar joined
11 Septfor gold and silver
Gopal Agrawal joined
11 Septfor overseas investments
Dhruv Muchhal left
11 Septran it for overseas investments from Jun 2023

Aug 2026

1 change

Expense ratio
13 AugRegular 1.56% → 1.54%Direct 0.77% → 0.75%

Jul 2026

1 change

Expense ratio
14 JulRegular 1.53% → 1.56%Direct 0.73% → 0.77%

Source.Its filings at NSE, since Sept 2024.

Fund managers over time^{(Jun 2014 – now)}

MainCoSlice201520172019202120232025

Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

Costs^{(Sept 2024 – Oct 2026)}

Every change to the expense ratio, newest first.
19 changes	Regular	Direct	Δ pt
13 Aug 2026	1.54%	0.75%	0.02
14 Jul 2026	1.56%	0.77%	0.04
11 Jun 2026	1.53%	0.73%	0.10
12 May 2026	1.62%	0.83%	0.03
12 Apr 2026	1.57%	0.80%	0.06
11 Mar 2026	1.56%	0.74%	0.06
10 Feb 2026	1.55%	0.68%	0.01
12 Nov 2025	1.54%	0.67%	0.01
14 Oct 2025	1.55%	0.68%	0.01
14 Aug 2025	1.55%	0.69%	0.02
13 Jun 2025	1.57%	0.71%	0.07
12 May 2025	1.61%	0.78%	0.16
11 Apr 2025	1.62%	0.94%	0.01
27 Mar 2025	1.61%	0.93%	0.16
12 Feb 2025	1.59%	0.77%	0.06
1 Jan 2025	1.57%	0.71%	0.01
13 Dec 2024	1.56%	0.70%	0.02
15 Oct 2024	1.57%	0.68%	0.02
15 Sept 2024	1.57%	0.66%	–

Direct plan, 13 Aug 2026

0.75%

Regular plan 1.54% · Exit load 1% within 1 year

Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

Objective and risk^{(8 Oct 2026)}

Objective

To provide long-term capital appreciation /income by investing predominantly in Small-Cap companies. There is no assurance that the investment objective of the Scheme will be achieved.

Risk, type and benchmark

Riskometer: Very High
Type: An open ended equity scheme predominantly investing in small cap stocks
Benchmark: BSE 250 SmallCap (Total Returns Index)

Asset allocation it may hold% of NAV

Equity and equity related instruments of Small Cap companies/entities
Allowed65–100%
Equity and equity related instruments other than Small Cap companies
Allowed0–35%
Money market instruments, Other liquid instruments and Units of Mutual Fund
Allowed0–35%
Units issued by InvITs
Allowed0–10%Holds0.0%
Gold and Silver instruments
Allowed0–35%Holds0.0%

Holds in Sept 2026.90.1% equity · 9.9% debt and cash

How to invest^{(8 Oct 2026)}

Buying

To start: ₹100, then any amount
To add: ₹100, then any amount
Systematic: For Systematic Investmet Plan (SIP) Daily, Weekly, Monthly, Quarterly, Half Yearly and Yearly For Systematic Withdrawal Advantage Plan (SWAP) Fixed SWAP - Monthly, Quarterly, Half Yearly, Yearly Variable SWAP - Quarterly, Half Yearly, Yearly For Sytematic Transfer Plan (STP) Fixed Systematic Transfer Plan (FSTP) - Daily, Weekly, Monthly, Quarterly Capital Appreciation Systematic Transfer Plan (CASTP) - Monthly, Quarterly
Dates: SIP: For Daily SIP- All Business Days For Weekly SIP- Any business day between Monday to Friday, (Default date is Wednesday) For all other frequnecies - Any date fo the month. If it happens to be a non-Business Day, SIP will be processed on the next Business Day (Default date = 10th of the month) SWP: For Fixed and Variable SWP- Any date. Default Date: 25th STP For Daily FSTP- All Business days For Weekly FSTP-Monday,Tuesday,Wednesday,Thursday,Friday (Default Day) For Monthly FSTP and CASTP - 1,5,10#,15,20,25 For Quarterly FSTP and CASTP - 1,5,10#,15,20,25 #Default Date
Minimum: For SIP DSIP, WSIP, MSIP - Rs. 100; QSIP - Rs. 1500; HSIP - Rs. 2500; YSIP - Rs. 5000. For SWAP Fixed SWAP - Rs. 100; Variable SWAP - Rs. 300. For STP Fixed STP (FSTP) Daily FSTP - Rs. 500; Weekly FSTP - Rs. 500; Monthly FSTP - Rs. 1000; Quarterly FSTP -Rs. 3000. Capital Appreciation STP (CASTP) Monthly CASTP - Rs. 300; Quarterly CASTP - Rs 1000., then for SIP and SWAP Re. 1/- thereafter; For STP FSTP Daily, Monthly, Quarterly FSTP - Rs. 100 thereafter Weekly FSTP - any amount thereafter CASTP Mulitples will be based on the appreciated amount
Instalments: SIP: Minimum number of installments under DSIP- 2 Minimum number of Installments under WSIP and MSIP : - In respect of each SIP Installment between Rs.300 to Rs.499 in value - 20 - In respect of each SIP Installment between Rs.500 to Rs.999 in value - 12. In respect of each SIP Installment equal to or greater than Rs 1,000 in value - 6 Minimum number of installments under QSIP : - In respect of each SIP Installment between Rs.1,500 to Rs.2,999 in value- 4; In respect of each SIP Installment equal to or greater than Rs. 3,000 in value- 2 Minimum number of installments under HYSIP: - In respect of each SIP Installment equal to or greater than Rs. 2,500 in value- 2 Minimum number of installments under YSIP: - In respect of each SIP Installment equal to or greater than Rs. 5,000 in value- 1 SWP: For Fixed and Variable SWP- 2 STP: Under Daily FSTP: -where installment amount is less than Rs. 1,000 : 12 - where installment amount is equal to or greater than Rs. 1,000: 6 Under Weekly STP : - Where installment amount is less than Rs. 1,000: 12 installments - Where installment amount is equal to or greater than Rs. 1,000: 6 installments However, for weekly STP in equity linked savings schemes, there should be a minimum of 6 installments for enrollment. Under Monthly FSTP & Monthly CASTP : - Minimum 6 installments, Under Quarterly FSTP & Quarterly CASTP : - Minimum 2 installments. Further, the minimum balance in the Unit holders account or the minimum amount of application at the time of enrolment for STP in the Transferor Scheme should be Rs. 12,000. There will be no maximum duration for STP enrolment.

Selling and switching

To redeem: Rs.100 and and multiples of Rs.1 thereafter or No minimum redemption criterion for Unit based redemption units
Minimum balance: There is no minimum balance amount requirement. or There is no minimum balance amount in units requirement. units
Switch minimum: Switch - in: Rs.100 and any amount thereafter. Additional Amount:. Rs. 100 Switch-out :Rs. 100 and multiples of Rs. 1/- thereafter
Switch multiples: Any amount
Switch most: Switch in: Not Applicable Switch out: Not applicable. or Switch in: Not Applicable. Switch out: Not applicable. units

Scheme details^{(8 Oct 2026)}

What it is

Category: Small Cap Fund
Started: 3 Apr 2008
Plans: Plans:Regular and Direct. Each Plan offers the following sub-options: · a)Growth Option. · b)Income Distribution cum Capital Withdrawal (IDCW) Option. This Option offers following Sub-Options / facilities: · • Payout of Income Distribution cum Capital Withdrawal (IDCW) Option / facility and · • Re-investment of Income Distribution cum Capital Withdrawal (IDCW) Option / facility.
Face value: ₹10
Listed: No

How it is run

Swing pricing: No
Side-pocketing: No
Custodian: Citibank N.A
Auditor: S.R. Batliboi & Co. LLP – Chartered Accountants
Registrar: Computer Age Management Services Limited
SEBI code: HDFC/O/E/SCF/07/03/0014